What is Arbitrum (ARB)? How does it work?
Arbitrum is Ethereum second layer scaling solution. Arbitrum was developed by Ed Felten, Steven Goldfeder and Harry Kalodner. Arbitrum’s native token is ARB. If you have questions like: what is Arbitrum (ARB), how does Arbitrum (ARB) work, how do you buy Arbitrum (ARB) and how do you trade ARB/TRY and ARB/USDT trading pairs, you will find the answers in this article.
This article will cover the following:
What is Arbitrum (ARB)?
How Does Arbitrum (ARB) Work?
How to Store Arbitrum (ARB)?
How to Buy and Sell Arbitrum (ARB)?
What is Arbitrum (ARB)? How does it work?
Arbitrum is Ethereum second layer scaling solution. The Arbitrum team claims it benefits from Ethereum’s security and compatibility. The Arbitrum network is advertised as operating with higher efficiency and lower fees than Ethereum. Furthermore, any Ethereum DApp can run on Arbitrum without needing to change code. The team claim that the Arbitum network is able to process thousands of transactions per second at high speed without compromising on reasonable fees and security security.
Arbitrum was developed by the United States-based Offchain Labs development company. The developers of the Arbitrum project include Ed Felten, Steven Goldfeder and Harry Kalodner.
Arbitrum’s native token is ARB. ARB is used in the governance of the Arbitrum network. Users with ARB tokens can shape the Arbitrum network by voting on management proposals for the Arbitrum One and Arbitrum Nova chains. Users with ARB tokens can vote on governance proposals, network improvements, and changes on the network. ARB holders do not need to spend their tokens to use Arbitrum services. ARB tokens can be staked in the Arbitrum network and for securing the network, fees are distributed in return.
ARB total supply is limited to 10,000,000,000 units.
How to Store Arbitrum (ARB)?
ARB is an ERC-20 based token. You can manage your ARB balances with desktop, mobile and hardware wallets that support ERC-20 based Ethereum assets.
How to Buy and Sell Arbitrum (ARB)?
You can use the BtcTurk | PRO mobile application or website to buy and sell Arbitrum (ARB) with Turkish lira and Tether. If you are not a member of BtcTurk, you can become a member immediately from our website or mobile application and start trading Arbitrum (ARB) by sending Turkish lira 24/7 with 7 contracted banks.
